Madoff Trustee Seeks $5.2M From Jewish Association

A nonprofit that provides housing, meals, social programs and advocacy for senior citizens in the New York area is the latest charity being asked to give back the funds it received from Bernie Madoff’s Ponzi scheme.

Irving H. Picard, who’s working to recover funds for Madoff’s victims, on Friday sued the Jewish Association For Services For The Aged (JASA) seeking the return of $5.2 million in bogus profits Madoff paid out before his massive fraud collapsed in December 2008.

“The transfers received by defendant constitute non-existent profits supposedly earned in the account, but, in reality, they were other people’s money,” Picard wrote in the lawsuit.